Qualcomm’s Paul Jacobs joins effort to keep Kings in Sacto

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Paul-JacobsSAN DIEGO — Qualcomm CEO Paul Jacobs is joining an investor group that hopes to keep the Sacramento Kings basketball franchise from moving to Seattle, according to multiple media reports.

Sacramento Mayor Kevin Johnson has been recruiting a group of high-powered investors to try and block a group of Seattle investors from buying the Kings. Billionaire investor Ron Burkle, 24 Hour Fitness founder mark Mastrov and software executive Vivek Ranadive have already committed to the effort.

Ranadive announced Monday night that Paul Jacobs and his two brothers, Jeff and Hall, have joined to effort to keep the Kings in Sacramento, according to the Sacramento Bee.

Johnson also tweeted out the news, according to FOX 40, calling Jacobs “another visionary who strongly believes in this market.”

The Jacobs family members have not publicly commented on the reports.

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